Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good…
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Modern American culture is statist to the core. The typical school curriculum tells students that capitalism is evil and socialism is good, be the school private or government. And the…
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On this day 106 years ago, the warring parties of World War I agreed to an armistice, ending more than four years of slaughter in the trenches. As Ludwig von…
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John Maynard Keynes is the best-known economist from the 20th Century, that not being a good thing. At least he was more famous for his success in promoting his views…
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With Europe moving toward conflict in 1938, a number of economists and other intellectuals met in Paris to try to revitalize liberalism. Ludwig von Mises also was there as a…
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Contra Marx, the laws of economics are immutable and are the same no matter what historical epoch exists. Economies cannot flourish unless market prices, private property rights, and profits and…
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While the US Constitution made the US a large free trade zone, prohibiting states from erecting trade barriers against each other, it also empowered the central government to erect tariffs…
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When the bankers called for a central bank in the US, they claimed to only want a way to stop bank runs. It turns out that they wanted—and got—much more.…
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One sign of a fraying society is that its laws increasingly become political tools. The latest round involves Democrats trying to use criminal law in a very questionable way to…
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A common belief among economists is that the central bank determines what interest rates should be. But is that accurate? Indeed, there is more to the story.